Saturday, July 27, 2019

Sadiq Khan Demands More Power To Bring Down London Rents

Will be noble
Sadiq Khan demands more power to lower the London rents

26% of Londoners rented in 2018, compared with 11% in 1990. Image: Shutterstock

The Mayor of London, Sadiq Khan, has called for more power to control and lower rents in London.

In his Reforming Private Renting report in London, Khan expects a plan for a "fundamental reform" that includes the creation of a London private letting commission. The Commission will "implement and enforce measures to lower rents and keep them at a lower level". It would also have London tenants on the board to make sure that new measures were implemented.

Other things that are required in the report of the Town Hall are a general register of landlords and rents; Increase the notice periods between landlord and tenant to four months; and scrapping clauses in leases.

Said Sadiq Khan:

Unlike other mayors around the world, I have no power over the private rental sector. For this reason, this groundbreaking report contains a detailed outline of what the government needs to do to revise the leases laws and what city hall authority they need to lower rents.

In the 1990s, a rent control with mixed effects on the tenants was determined in San Francisco. Image: Shutterstock

In some major cities worldwide, including San Francisco and Berlin, rent control has already been implemented. Experts have felt the effects as mixed blessings for tenants. In San Francisco, for example, it was discovered in the 1990s that the tenants in charge were doing better, but the tenants who came later to the city were paying higher rents due to a lack of housing.

An increasing number of Londoners are now renting - 26% in 2018 versus 11% in 1990. The average private rent for a one-bed London home is more than the average for a triple in England. Clearly, something needs to be done.

However, the city hall will need the approval of a conservative government, which will probably soon be led by Boris Johnson. He is to endorse the idea of ​​property over rent and, in his eight-year tenure as mayor of London, has introduced nothing that could be considered "rent control".

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